The Small Business Administration has opened a new Growth Accelerator Fund competition for accelerators, incubators, co-working startup communities, shared tinker-spaces or other models.
These entities can compete for monetary prizes of $50,000 each, totaling $3.95 million. The application period is from May 2-June 3.
Special consideration will be given to these accelerator models which support women-owned or minority-owned small businesses. The SBA is looking to support the development of accelerators and their support of startups in parts of the country where there are fewer conventional sources of access to capital (i.e., venture capital and other investors).